To meet the needs of the company's strategic development, and upon approval by the Shenzhen Administration for Market Regulation, BASiC Semiconductor Co., Ltd. successfully completed its conversion into a joint-stock company and business registration procedures on November 15, 2024. The company’s name has been officially changed to "Basic Semiconductor Co., Ltd." (in Chinese, the name reflects a change to a joint-stock company structure). This conversion marks a significant milestone in the development of BASiC Semiconductor, indicating that the company’s governance structure, business mechanisms, and organizational form have been comprehensively reshaped, ushering in a new phase of development.